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Mar 13 - 07:55 PM

AUD/USD - Opens Higher As USD Plunges On Shift In Fed Expectations

By John Noonan  —  Mar 13 - 06:25 PM
  • AUD/USD opens +1.29% as USD broadly fell on radically changed Fed outlook nL1N35L2OQ

  • The US 2-year yield has fallen over 100 bps since Wednesday on US bank woes nL1N35L2J4

  • Risk aversion and dovish turn in RBA expectation capping even strong gains nL1N35L33X

  • AUD/USD closed below 10-day MA (0.6673) but above that reading in early Asia

  • Resistance is at the 21-day MA at 0.6757 and 38.2 of 0.7158/0.6564 at 0.6791

  • Bids are eyed at 0.6620 with support at double bottom around 0.6565

  • USD likely to remain under pressure ahead of US CPI later today

  • Fed facing serious dilemma if CPI comes in hotter than expected

  • Volatility likely to continue in the short-term at least

  • For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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